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Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Alternate Symbol(s):  ARESF | T.AX.UN | T.AX.PR.I

Artis Real Estate Investment Trust is a diversified Canadian real estate investment trust with a portfolio of industrial, office and retail properties in Canada and the United States. The Company’s portfolio comprises more than 100 commercial properties. Its properties include Bower Centre; Maynard Technology Centre; McCall Lake Industrial; Pepco Building; Alex Building; 1093 Sherwin Road; 1681-1703 Dublin Avenue; Keewatin Distribution Centre; 360 Main & Shops of Winnipeg Square; Hamilton Building; Bell MTS Building II; Grande Prairie Power Centre; Northern Lights Shopping Centre I; 2190 McGillivray Boulevard; 1431 Church Avenue; Prudential Business Park 1; 951-977 Powell Avenue & 1326 Border Street, 100 Omands Creek Boulevard, Hudson's Bay Centre, and others.


TSX:AX.PR.E - Post by User

Comment by InvestSmarteron Dec 22, 2023 4:09pm
110 Views
Post# 35798417

RE:Artis REIT sells eight properties to stem steep losses

RE:Artis REIT sells eight properties to stem steep lossesWho writes this junk. Do they just use AI to spew out inaccurate junk and hope no one notices?


However, potential investors should note that future returns are heavily contingent on how the company manages the more than C$11 billion of mortgage and loan interest expenses on its balance sheet as of Sept. 30, which is up by more than C$3 billion year-over-year. The loans carry a weighted-average effective interest rate of 6.63 per cent, up from 4.84 per cent on Dec. 31, 2022, and will likely call for further company restructuring until inflation reverts to historical averages.

The C$11 billion figure is in addition to C$18 billion in interest expenses due for Artis’ senior unsecured debentures, credit facilities and preferred shares, which are largely responsible for its more than C$450 million in net losses over the past five quarters.





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